Streets dramatically drops the price of Cornetto’s as war against Drumstick continues

Streets has dramatically dropped the price of its individually sold Cornetto ice creams to just AUD$2.00.

The Cornetto had a previously recommended retail price of AUD$3.30.

Along with the introduction of the new price, Streets is introducing a new flavour, Strawberry Choc. The Cornetto Strawberry Choc consists of chocolate and strawberry ice cream in Cornetto’s usual wafer cone with chocolate sauce and choc chips on top.

Cornetto’s new flavour will join the existing chocolate and vanilla flavours.

The $2.00 ice creams will sell in petrol stations and convenience stores across Australia and Streets Ice Cream Marketing Director, Anthony Toovey says the price-relaunch will be supported by a multi-million dollar communications campaign.

“We are always looking for opportunities to innovate in the ice cream category. This is a very competitive market and it’s important we provide consumers with even more reasons to love Cornetto. The $2 price point is about unlocking growth for Cornetto and bringing new consumers to the category through this ‘loose change’ offer. We believe that this initiative has the potential to significantly grow the ice cream category and reconnect consumers with ice cream on a more regular basis,” said Toovey.

Competition

In August 2015 Street’s major revival, Peter’s Drumstick launched two new flavours with popular Australian celebrities onboard, singer Jimmy Barnes and entertainer Dame Edna. The campaign appeared to generate good sales and strengthen Peter’s market position as the Australian summer approaches.

In May 2014 the UK based R&R Ice Cream acquired Peters Food Group Limited from Pacific Equity Partners (PEP).

When the acquisition ooccurred Peters CEO Stephen Audsley named Drumstick as one of the company’s leading brands. “With the backing of R&R, Peters will continue to invest in its market leading brands including Drumstick and Connoisseur and in its long history of innovation,” Audsley said at the time.

According to Nielsen figures reported in Retail World’s December 2014 annual report, Peter’s has a 27.4 per cent volume share of the supermarket ice cream sector. Unilever, owner of Streets, has a 19.4 per cent share.